The Toro Company (NYSE:TTC) Holdings Increased by Bell Asset Management Ltd

Bell Asset Management Ltd increased its position in The Toro Company (NYSE:TTC - Free Report) by 72.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,756 shares of the company's stock after purchasing an additional 32,661 shares during the period. Bell Asset Management Ltd owned 0.08% of Toro worth $6,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of Toro by 8.2% in the 3rd quarter. HighTower Advisors LLC now owns 8,447 shares of the company's stock worth $726,000 after acquiring an additional 641 shares in the last quarter. Investment Management Corp of Ontario boosted its holdings in Toro by 46.0% in the third quarter. Investment Management Corp of Ontario now owns 3,490 shares of the company's stock worth $303,000 after purchasing an additional 1,100 shares during the period. IHT Wealth Management LLC increased its stake in Toro by 40.9% during the third quarter. IHT Wealth Management LLC now owns 3,047 shares of the company's stock valued at $264,000 after purchasing an additional 885 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Toro by 153.4% during the third quarter. Quantinno Capital Management LP now owns 28,627 shares of the company's stock worth $2,483,000 after purchasing an additional 17,330 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Toro by 2.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 77,397 shares of the company's stock worth $6,571,000 after buying an additional 1,990 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TTC. Raymond James lowered their price objective on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. StockNews.com lowered Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a research note on Monday, February 24th. Finally, DA Davidson cut their target price on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Toro currently has an average rating of "Moderate Buy" and a consensus price target of $89.75.

Toro Stock Performance

Shares of TTC traded up $1.39 during mid-day trading on Friday, reaching $68.01. 875,135 shares of the company's stock traded hands, compared to its average volume of 971,770. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93. The stock has a market capitalization of $6.79 billion, a P/E ratio of 16.96 and a beta of 0.72. The business's 50-day moving average price is $75.07 and its 200-day moving average price is $80.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.38 per share. The ex-dividend date is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.24%. Toro's dividend payout ratio (DPR) is presently 38.87%.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.